Clinical Network Services buys CRO Beltas

Australian CRO Clinical Network Services has acquired New Zealand's Beltas, a former partner and provider of mid- to late-stage trial services.

CNS didn't disclose financial terms of the deal but said the buyout has already closed and that it has transferred all of Beltas' staff and contracts to its New Zealand operations.

The CRO targets small, mid-size and virtual biotechs with its early phase services, and integrating Beltas' Phase II-V capabilities will help expand its client base, Managing Director Russell Neal said.

"This acquisition continues our goal of widening our capabilities across Australia and New Zealand, and, by bringing together these two highly skilled clinical teams with years of collective experience, we are able to offer our clients a truly regional solution," Neal said in a statement.

And there's a reason CNS chose a buyout target in the same region: The CRO touts that it can get clients into the clinical phase quickly thanks to the "extremely pragmatic regulatory environment" of Australia and New Zealand.

- read the release